Annual report pursuant to Section 13 and 15(d)

RESTRUCTURING CHARGES

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RESTRUCTURING CHARGES
12 Months Ended
Dec. 31, 2014
RESTRUCTURING CHARGES.  
RESTRUCTURING CHARGES

11. RESTRUCTURING CHARGES

        In September 2013, we announced that we had reduced our workforce by 30 positions, mostly from the drug discovery area, as a consequence of prioritizing projects and efforts to conserve our working capital. We recorded restructuring charges in the third quarter of 2013 of approximately $1.7 million within Restructuring Charges, which included $1.5 million of costs paid or to be paid in cash, and $239,000 of non-cash stock-based compensation expense primarily as a result of the modification of certain stock options (see Note 4). At December 31, 2013, the remaining accrued restructuring costs, classified within Accrued Compensation on the Balance Sheets, consisted of $47,000 related to COBRA benefits, which was fully paid in 2014.